Silver (XAG/USD) extends its decline on Tuesday and trades around $67.50 at the time of writing, down 1.43% on the day. The precious metal corrects for a second consecutive day as investors remain cautious ahead of Wednesday’s release of the United States (US) Personal Consumption Expenditures (PCE) Price Index, while attention also turns to the Jackson Hole Symposium.
The core PCE inflation, the Federal Reserve’s (Fed) preferred gauge for assessing price pressures, is expected to remain steady at 3.4% YoY in July. A stronger-than-expected reading could fuel concerns over tighter monetary policy and weigh on Silver, while easing inflation could strengthen expectations for a monetary policy hold and support precious metals.
Investors…